Podcast EP 50 It's Personal (Sep 15)

$SPY $QQQ $IWM $ES_F $VIX $AAPL $AMZN $META $MSFT $NVDA $TSLA $TLT $TBT

Sep 18, 2023

Transcript

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Show Notes

Summary of the day

Forget a follow through day after a bullish Thursday. This was a massacre. So Wall St seems to have waited for both the CPI and PPI data to be digested and the masses to step back into the waters on Thursday with nothing but sunshine, cocktails and sun cabanas. Only to release their tiger sharks on Friday.

UAW went on strike strategically hitting the U.S. car makers in their most profitable factory locations. The workers are saying that since the bailouts of the automakers during the great financial crisis, they took concessions to help the auto co’s survive. And that since 2008, the auto companies bounced back but have not paid their workers and have left them in 2008 conditions. The workers are asking for more wages, no tiered ramp up on wages, and a 4 day work week.

The car companies are claiming if they give them what they want, they will go bankrupt. The workers are claiming if they get what they want the car companies would still make billions.

Then the backdrop is that this is a sign that workers are facing massive inflation. If the UAW wins, other unions and employees in general will continue to push for higher wages and less work in other industries.

So the narrative from government and the Fed saying that Inflation is not bad, is a lie. You must know and feel this in your own individual lives.

Just look at Crude Oil, it looks like it has a date with $160!!!

The 10 year yield is about to break thru to new highs.

We are only 8% away from lifetime highs. While the market is on wobbly ground, there still remains a chance at headline shock both up or down. Seasonality for end of yr is usually bullish. And 2024 is election yr. Watch yields, mag 7, interest rate sensitive sectors. Exciting and tumultuous week ahead!